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Tuesday, December 8, 2009

Study: Wind farms have no effect on property values

From a news release issued by the Lawrence Berkeley National Laboratory:

Home sales prices are very sensitive to the overall quality of the scenic vista from a property, but a view of a wind energy facility does not demonstrably impact sales prices.Over 30,000 megawatts of wind energy capacity are installed across the United States and an increasing number of communities are considering new wind power facilities. Given these developments, there is an urgent need to empirically investigate typical community concerns about wind energy and thereby provide stakeholders involved in the wind project siting process a common base of knowledge. A major new report released today by the U.S. Department of Energy’s (DOE) Lawrence Berkeley National Laboratory evaluates one of those concerns, and finds that proximity to wind energy facilities does not have a pervasive or widespread adverse effect on the property values of nearby homes.

The new report, funded by the DOE, is based on site visits, data collection, and analysis of almost 7,500 single-family home sales, making it the most comprehensive and data-rich analysis to date on the potential impact of U.S. wind projects on residential property values.

“Neither the view of wind energy facilities nor the distance of the home to those facilities was found to have any consistent, measurable, and significant effect on the selling prices of nearby homes,” says report author Ben Hoen, a consultant to Berkeley Lab. “No matter how we looked at the data, the same result kept coming back - no evidence of widespread impacts.”

An expert witness on real estate voiced the same conclusion during hearings on We Energies proposed Glacier Hills Wind Park.

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